Novo mRNA Obesity Deal Prompts Suit Against Omega Board, Backers

Omega Therapeutics Inc.'s backers at Flagship Pioneering Inc. drew unfair benefits from the company’s deal to develop an mRNA-based obesity drug for Novo Nordisk A/S, a newly unsealed lawsuit says.

Flagship, a biotech investment business, exploited its voting control over Omega to impose a 50-50 split of any payout from Novo, despite the central role of Omega’s proprietary technology and the secondary importance of Flagship’s contributions, according to the court complaint filed by an Omega shareholder.

“The company had the capacity to enter into a similar agreement with Novo Nordisk or others without Flagship’s involvement and could have negotiated ...